Churchill Downs, Incorporated (NASDAQ:CHDN) Receives Consensus Rating of "Buy" from Analysts

Key Points

• Churchill Downs, Incorporated (NASDAQ:CHDN) has received an average rating of "Buy" from eleven analysts, with a twelve-month price target of $138.18.
• The company's recent earnings report showed an EPS of $3.10, exceeding consensus estimates, and a revenue increase of 4.9% year-over-year.
• Institutional investors hold 82.59% of Churchill Downs' stock, with significant increases in stakes from firms such as SG Americas and Millennium Management.

Shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Get Free Report) have received a consensus rating of "Buy" from the ten analysts that are currently covering the stock, Marketbeat reports. Ten equities research analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have issued a report on the stock in the last year is $136.50.

Several research analysts have recently weighed in on the stock. Macquarie boosted their price target on shares of Churchill Downs from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Barclays boosted their price objective on shares of Churchill Downs from $127.00 to $131.00 and gave the company an "overweight" rating in a report on Friday, July 25th. JMP Securities decreased their target price on shares of Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating on the stock in a research report on Tuesday, May 27th. Susquehanna upped their target price on shares of Churchill Downs from $121.00 to $126.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Finally, Stifel Nicolaus upped their target price on shares of Churchill Downs from $130.00 to $133.00 and gave the company a "buy" rating in a research report on Friday, July 11th.

Churchill Downs Trading Up 1.3%

Shares of CHDN stock traded up $1.34 on Friday, hitting $101.75. 54,766 shares of the stock traded hands, compared to its average volume of 730,693. The firm's 50-day moving average price is $103.19 and its two-hundred day moving average price is $105.75. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market capitalization of $7.13 billion, a PE ratio of 17.45, a PEG ratio of 1.89 and a beta of 0.95. Churchill Downs has a twelve month low of $85.58 and a twelve month high of $150.21.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.03 by $0.07. The firm had revenue of $934.40 million for the quarter, compared to analysts' expectations of $924.36 million. Churchill Downs had a net margin of 15.22% and a return on equity of 41.46%. The company's revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.89 EPS. As a group, analysts anticipate that Churchill Downs will post 6.92 EPS for the current year.

Institutional Trading of Churchill Downs

A number of institutional investors and hedge funds have recently bought and sold shares of CHDN. Wells Fargo & Company MN increased its stake in Churchill Downs by 2.7% during the fourth quarter. Wells Fargo & Company MN now owns 114,935 shares of the company's stock worth $15,348,000 after purchasing an additional 3,040 shares during the period. Envestnet Asset Management Inc. increased its stake in Churchill Downs by 5.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 295,311 shares of the company's stock worth $39,436,000 after purchasing an additional 15,821 shares during the period. Russell Investments Group Ltd. increased its stake in Churchill Downs by 10.7% during the fourth quarter. Russell Investments Group Ltd. now owns 32,850 shares of the company's stock worth $4,387,000 after purchasing an additional 3,173 shares during the period. FMR LLC increased its stake in Churchill Downs by 6.4% during the fourth quarter. FMR LLC now owns 3,592,087 shares of the company's stock worth $479,687,000 after purchasing an additional 214,694 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Churchill Downs by 15.5% during the fourth quarter. Renaissance Technologies LLC now owns 84,950 shares of the company's stock worth $11,344,000 after purchasing an additional 11,400 shares during the period. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

About Churchill Downs

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.